Polesie company launches export of toys to Japan
The first deliveries have seen high consumer demand
The first deliveries have seen high consumer demand. The company sells its goods to around 40 countries in Europe and the CIS. PP Polesie JV, Ltd. is Belarus’ largest manufacturer of plastic toys and general-purpose goods, including plastic children’s toys and play structures, children’s bikes and quad bikes, pet products and recreational goods.
Presentation of new toys at Khoiniki pre-school child development centre
Considering many factors
By Alexander Pimenov
Fitch Ratings affirms BPS-Sberbank’s, Bank BelVEB’s and Belgazprombank’s Long-term Issuer Default Ratings at ‘B-’ with Stable Outlooks. The following statement is from the website of the rating agency.
The three banks’ Long-term Issuer Default Ratings and Support Ratings display the probability of support they may receive from their Russian shareholders. BPS-Sberbank is 98.4 percent owned by Sberbank of Russia (BBB-/Negative), BelVEB is 97.5 percent owned by Vnesheconombank, (VEB; BBB-/Negative), and Belgazprombank is jointly owned by PJSC Gazprom (BBB-/Negative) and Gazprombank (BB+/Negative) with each holding a 49.7 percent stake. “Our view of potential support is based on majority ownership, continued strong commitment by Russian owners to the Belarusian market, common branding (implying high reputational risks in case of a subsidiary default), parent-subsidiary integration (including board representation and operational controls), the track record of support to date and the low cost of any support required (given that each subsidiary accounts for a small part of parent entities’ consolidated assets),” the agency explained.
Application of solar energy
Project to create solar power station launches in Smorgon
By Anton Mardilovich
Ecological Energy Ltd. is to use renewable energy sources in the Smorgon District, on wasteland in the industrial zone, on the eastern outskirts of the district centre. The first stage has envisaged preparatory works, with the second stage launching in July, to include construction, and building of an electricity sub-station to receive and process power. The third stage should be finished by July 2018, although the Smorgon District Executive Committee and Ecological Energy Ltd. are keen to finish ahead of time, by 2017.
Solar panels with a total capacity of at least 17MW are to be placed at the future station, making it the most powerful in Belarus, with electricity feeding into the common network. The development of alternative energy, including the application of solar energy, is a promising sphere for the Grodno Region, with two solar power stations already established in the Shchuchin District (with a capacity of up to 2MW) and a solar power station (up to 1MW) being created in the Grodno Region. Several enterprises and organisations in the region use solar power, including sanatoriums and children’s recuperation camps.
Wide field for serious work
By Olga Korneeva
Belarus and Syria to liaise in production of medicines
The Health Ministry of Belarus has signed a co-operative agreement with the Healthcare Ministry of Syria to manufacture and supply medicines and medical devices, as noted on the National Legal Internet Portal. The healthcare ministries of our two countries have agreed to develop and expand bilateral relations in trade, science, technology and industry.
According to the document, joint production of medicines and medical devices are planned, alongside sale to foreign markets. The two ministries have also agreed joint research into new medications and devices, for manufacturing application. There will be ‘on-the-job’ training for specialists from both countries, allowing them to learn from each other, studying international manufacturing standards, and offering bilateral methodical and consultative assistance (in the organisation of manufacturing and quality control of medicines and medical devices). Together, they plan to investigate new medical treatments, via effective drugs and devices.
Stock exchange venues very attractive
By Alexander Pimenov
Italian companies keen to purchase goods via Belarusian Universal Commodity Exchange (BUCE), notes Vincenzo Russo, an official representative of the Belarusian Chamber of Commerce and Industry (BCCI) in Italy (Region of Lombardy) and Switzerland (Canton of Ticino) during his visit to the BUCE’s central office
According to Mr. Russo, exchange sites enable companies to make purchases without an intermediary, and to strike deals directly with manufacturers, or first-level distributors. He is keen to promote the BUCE and its services to Italy and to actively encourage Italian companies to trade via the Belarusian Commodity Exchange.
Parties have already drawn a list of Belarusian products to be sold to Italy through the BUCE. The most promising goods include milk powder, rapeseed oil, beef, round timber, fuel brick, non-ferrous waste and metal scrap. The possibility of selling oil and gas products via the commodity exchange is being considered. Moreover, petrochemical goods are under scrutiny for sale via the BUCE, with opportunities for industrial and consumer goods.